Biotechnology giant Monsanto is scrapping plans to win approval to grow new types of genetically modified crops in the European Union. However, it will look to get EU approval to import its genetically modified crop varieties from the US and South America into Europe. http://www.bbc.co.uk/news/business-23356054  In Europe there have been concerns about the use of GM food products, and approval for GM crop cultivation can take years to obtain. The Monsanto decision is related to pending requests to grow genetically modified maize, soybean and sugar beet.
It comes just days after the EU began talks with the US on a wide-ranging trade deal, with agriculture likely to be one of the toughest issues.
In 2012, Germany’s BASF halted the development of genetically modified crops in Europe and moved its European research operations in this area to the US.